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<ul><li>OYO founder <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> was recently booked in a cheating case by a hotel owner in Bengaluru. </li><li>But there have been multiple such incidents across the country. </li><li>In the US too, OYO has been facing similar issues.</li></ul>OYO Hotels &amp; Homes, the Indian unicorn that has gone global seems to be going through a bad time. Founded by Ritesh Agarwal, OYO is on its way to hit its ambitious target of being the world’s largest hotel chain. It helps that they are already South Asia’s largest hotel chain by the number of rooms. OYO also recently launched OYO Partner Engagement Network (OPEN) through which it set up four regional Partner Advisory Councils which “provides a platform to discuss and determine micro and macro issues driving the future of hospitality in India”. Yet the past few months have been turbulent. From multiple FIRs to an uprising from hotel owners, OYO is now dealing with multiple cases. Cheating case against Agarwal and others Recently, a Bengaluru <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/cheating-case-against-oyo-founder-ritesh-agarwal-6-others/articleshow/71905131.cms">hotelier</a> filed a cheating case against Agarwal and six others claiming that the OYO hasn’t paid him his dues. According to the complaint, the hotelier has claimed that OYO was supposed to pay him ₹7 lakh a month for room bookings but failed to do so since May 2019. "Our lawyers are looking into the matter and will be taking strong legal action as these claims are incorrect and defamatory in nature. OYO Hotels &amp; Homes will initiate appropriate criminal proceedings against the Bengaluru owner who is sensationalising a civil dispute to attract attention. On studying a similar matter where an FIR was wrongfully filed in September, the honourable Karnataka High Court recently stayed the adverse actions via an injunction in Bengaluru. We, therefore, have strong reasons to repose our faith in the justice system," said a statement from OYO. OYO also claims to have an annual retention as high as 99.5% across the chain in India &amp; South Asia. Incidents at OYO Hotels Recently, a national level shooter was found dead in an OYO hotel reportedly due to electrocution. On the other hand, an employee in a Gurugram-based OYO hotel was also accused of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/electrocution-case-oyo-says-it-is-cooperating-with-police-authorities/articleshow/71607725.cms">raping</a> a guest. In both cases, OYO has said that it is working with the authorities and helping with the investigation. Hotel owners’ rising rage Hotel partners have been raising their concerns about OYO for quite some time now, with some even calling it the <a href="https://www.firstpost.com/business/hotel-operators-who-partnered-with-oyo-call-it-biggest-online-fraud-demand-criminal-probe-against-softbank-backed-startup-7462021.html">‘biggest online fraud’.</a> Multiple protests have also been organised by hoteliers against OYO across the country. Most of the protests have been about clearance of dues. Another point <a href="https://www.businesstoday.in/current/corporate/as-softbank-oyo-booms-over-10000-hotels-cry-foul-and-check-out/story/383337.html">raised by hotel owners</a> has been that while OYO charges 20% franchise fee on room revenues, it ultimately takes more money through different sources that aren’t disclosed initially. Trouble in America too OYO, after having had a great run in China, also expanded to the US. It has even taken over a Hooters hotel in Las Vegas and rebranded it to be an OYO hotel. US-based media outlet <a href="https://skift.com/2019/10/24/budget-chain-oyo-can-be-a-nightmare-for-u-s-hotel-operators-despite-its-hype/">Skift</a> has reported that several hotel owners complained that OYO’s partner management system didn’t work properly along with non payment of dues. CCI investigation MakeMyTrip and Oyo’s commercial agreement is being investigated by the Competition Commission of India. The alleged dominance that they would enjoy is now under scanner. And prima facie, MakeMyTrip is identified as ‘dominant’ in the online travel market while OYO holds the same position in the hotels market. The joint effect of their partnership could alter the way the market operates. “OYO has been prima facie found to be a significant player in the ‘market for franchising services for budget hotels in India,” said the report. See Also: <a href="https://www.businessinsider.in/business/startups/news/why-makemytrip-and-oyo-are-in-trouble-with-the-cci/articleshow/71818051.cms">MakeMyTrip and Oyo are in trouble with the CCI, opening up a gray area for business partnerships in India</a>

Dues, death and an investigation — all that went wrong with OYO hotels in the last 6 months

<ul><li>The Competition Commission of India is probing into MMT and <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s deal for an adverse effect on competition in the market. </li><li>There is a thin line indeed between businesses which want to share benefits and those who want to control the market. </li><li>With the Indian digital penetration, is it time to bring in a new era of competitive businesses in India?</li></ul><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> and Oyo’s commercial agreement has brought a new problem at their doors – the Competition Commission of India. The <keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword> is now probing into their deal for a possible adverse effect on the market. The alleged dominance that they would enjoy is now under scanner. And prima facie, MakeMyTrip is identified as ‘dominant’ in the online travel market while OYO holds the same position in the hotels market. And the joint effect of their partnership could alter the way the market operates. “OYO has been prima facie found to be a significant player in the ‘market for franchising services for budget hotels in India’,” said the report. Both Oyo and MMT had begun their partnership in February 2018. In 2019 they renewed their partnership for five years. In an earlier conversation with Business Insider India, Deep Kalra, founder and chairman of MakeMyTrip, had said, “Oyo for us would be more a partner, because they are now on the supply side and the fastest growing hotel chain in the world. Like all other hotel chains, they also go direct, they aren’t selling other services. We have always seen competition in the market otherwise.” If CCI finds discrepancies, it could turn a precedent for several deals forged recently. Reliance Jio acquired music streaming app Saavn, which strengthened the latter’s position in the Indian market against competition like Gaana, Spotify and even the Airtel-backed Wink. As per an exclusive partnership, OnePlus phones come pre-installed with the Amazon app. There is a thin line indeed between businesses which want to share benefits and those who want to control the market. “There is a clear need of legal audit of all such agreements. Such partnerships should always and periodically be evaluated on the touchstone of AAEC. Unless the CCI establishes AAEC, it can’t bring a case against a party under section 3(4) of the Act,” said KK Sharma, Chairman, KK Sharma Law Offices &amp; ex-Director General and Head of Antitrust and Merger Divisions, CCI. We have a vertical relationship with MMT, says Oyo The Federation of Hotel and Restaurant Associations of India lodged a complaint against MMT and its acquired unit GoIbibo and Oyo Hotels and Homes. The complaint was against MMT-Go and Oyo’s alleged dominance in the market, predatory pricing. It also alleges that their commercial agreement has led to the presumable exclusion of other competitors on MMT’s platform. “Whether the commercial agreement between OYO and MMT entails preferential treatment to OYO and consequent exclusion of Treebo, Fab hotel and any other hotel chain and if so, the effect of the same on competition merits investigation,” the CCI order said. Oyo argued that it is not an online aggregator but a hotel chain which is listed on MMT and has a vertical relationship with the latter. “We will continue to cooperate with Hon’ble CCI’s investigation process as we review the complete order. We will actively engage with the Hon’ble Commission in this process,” said an OYO spokesperson.’ The CCI further said that any restrictive agreement which may lead to refusal to deal with some players or exclusive arrangement with some players, may have potential adverse effect on competition. “The problem is not merely because of there being an exclusive partnership. It is because of conduct much beyond this,” said Sharma. He further explained that the Commission has asked DG to examine violation of Section 3(4) of the Act. It means CCI has to establish that such conduct exists and if it does, if it can have an adverse effect on the competition. “Only after the above are established, can it be said that there is a violation of the provisions of the Act; and further only after the above are done, can the onus of proof move to the person against whom allegations are made,” said Sharma.

MakeMyTrip and Oyo are in trouble with the CCI, opening up a gray area for business partnerships in India

<ul><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> and <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">Oyo</keyword> have both been in the eye of many public controversies, stirred by industry bodies.</li><li>While Zomato has been in the middle of a <keyword id="7998183" type="UNKNOWN" weightage="20" keywordseo="logout-movement">logout movement</keyword> from restaurants, Oyo has been dealing with legal complaints against its founder for breach of trust. </li><li>This has affected the public branding and image of the companies.</li></ul><keyword id="476451" type="PERSON" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> and <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> maybe poster boys of the Indian startup industry. But,the founders of Zomato and Oyo are dealing with complaints from industry bodies, associations and even backlash from their own employees. Startups which have started to solve existing problems, are now facing their own. The problems surrounding Zomato and Oyo Zomato was caught in the throes of a very public controversy thanks to its deep discounting programmes like Zomato Gold (where consumers can avail 1+1 on food and 2+2 on drinks) and infinity dining. The National Restaurant Association of India (NRAI) launched a ‘logout’ movement last month claiming that the business practices of aggregators are unethical. The movement saw hundreds of restaurants delisting from the app. But that’s not the end of it. Zomato’s delivery executives across Mumbai and Bengaluru are protesting for pay cuts. The company is also in the news for reportedly laying off employees at its Gurgaon headquarters. Oyo is in no better position. On one hand, it is battling legal complaints from a Bengaluru-based hotelier accusing Agarwal of cheating and breach of trust. A month ago, hoteliers too had begun boycotting Oyo, but the Delhi High Court had ruled the case in the company’s favour. To tackle these issues, Zomato reportedly held several meetings with the NRAI. It also backtracked by cutting off discounts from its Zomato Gold programme. It has also put its recently launched Infinity Dining programme on a ‘pause’ mode. Oyo, on the other hand, has refuted all claims against its founder and has been unfazed through its expansion journey globally. The branding has taken a hit Startups and their success is important not just because of their disruptive nature, but their popularity has made them almost invincible with a ‘can-do’ attitude. These issues have come to prove that it is not the case. And, it has started to show. This is evident in its survey rankings. YouGov measures a brand by the buzz it generates in two weeks. Zomato’s Buzz fell by 6.8 points, from 42.7 in the beginning of July, to 35.9 in August end. “Zomato’s Brand Index score which is an average of quality, value, impression, reputation, satisfaction and recommend scores, has also fallen from 38.5 on 31st July to 34.9 on 31st August 2019, the time period marked by the two controversies,” said YouGov. This is a big blow for Zomato which is known for its witty, quirky marketing campaigns on and off-line that has caught the fancy of millennials. The company however said that its own internal tracking system shows no significant dip in perception in the last 3 months. "On the contrary, metrics such as trust, brand love, innovation, etc. have shown consistent upswing. These metrics are tracked diligently on a daily/weekly/monthly basis and none of the external noise has impacted our core consumer perception in a negative manner. In fact, we have noted a spike in the user engagement with an increase in average time spent on the app, session counts, weekly downloads, etc. These results from continuous monitoring have reaffirmed our current approach towards consumer engagement and product innovation,” said a Zomato spokesperson. Brand expert Harish Bijoor believes that Zomato and Oyo both need to be worried. “We live in the era of nano-second social media hurt. Every social media comment that is hurtful to the brand is a scar. Too many scars, and the brand can get into a negative tizzy. Brands need to be careful, and more importantly quick in their reactions to issues. Both Zomato and Oyo have been through this. As of now, the brand image has not been hurt. it has been jolted, but not damaged,” said Bijoor.

It's a stormy time for two of India's biggest startup brands

<ul><li>The CAIT is seeking probe and has alleged that <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> are avoiding a tax liability. </li><li>Meanwhile, <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s troubles continue with hotel owners alleging unethical practices followed by the company. </li><li>Following the <keyword id="92417" type="ORGANIZATION" weightage="20" keywordseo="NRAI">NRAI</keyword>’s path, the Indian Hotel and Restaurant Association (AHAR), which has 8,000 members nationally is also claiming to have logged out of <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>. </li></ul>India’s biggest startups have been solving its systemic problems to build businesses. But the system has now started revolting and it could be another trouble that they have to solve. Startups like Oyo, Zomato, Amazon, Flipkart which have all disrupted traditional setup are now facing challenges that come with overtaking a market. Here’s a look at how trouble is brewing for the companies. Amazon and Flipkart Amazon and Flipkart are united in a rare case – where they both are facing a protest from the Confederation Of All India <keyword id="6371444" type="UNKNOWN" weightage="20" keywordseo="traders">Traders</keyword> (CAIT). While trader protests have been a part of the e-commerce journey so far in India, it has intensified with the CAIT now seeking a <a href="https://www.livemint.com/companies/news/cait-seeks-probe-into-alleged-avoidance-of-tax-liability-by-amazon-flipkart-11574620469832.html">probe </a>against Amazon and Flipkart. The CAIT alleged that Amazon and Flipkart are evading tax. It said that the companies are selling products for much lower than their fair price value, thus avoiding a larger GST cost. “Since FDI is governed by the FEMA and the Reserve Bank of India, it is demanded that an another enquiry may also be initiated on pattern of receivable funding and its disbursement," CAIT <a href="https://www.livemint.com/companies/news/cait-seeks-probe-into-alleged-avoidance-of-tax-liability-by-amazon-flipkart-11574620469832.html">said.</a> Earlier, the CAIT also organised a nationwide protest against the deep discounting of products on Amazon and Flipkart. OYO OYO brought Indian budget hotels online and shot to fame thanks to its many customers. But hotel owners who they work with are alleging that OYO’s practices are unethical. Recently, a Bengaluru hotelier filed a cheating case against Agarwal and six others claiming that the OYO hasn’t paid him his dues. According to the complaint, OYO was supposed to pay ₹7 lakh a month for room bookings but failed to do so since May 2019. OYO responded stating that it would fight back with a complaint against the hotelier for "using improper legal means to sensationalise a civil dispute and get attention". “This matter is currently sub-judice, and we are not at the liberty of commenting on specifics. Having said that, we strongly refute the claims made in the complaint that has been wrongfully filed against our founder and six other office bearers, based on false allegations and exaggeration on a regular commercial dispute,” the company said in a statement. The case of the Bengaluru hotelier is not isolated. Similar reports have surfaced from across the country against <a href="https://www.thenewsminute.com/article/why-many-hotel-owners-across-india-are-agitated-oyos-business-model-106154">OYO</a>. Zomato Indian foodtech unicorn has had a rough few months thanks to one of its bestselling features – Zomato Gold. The National Restaurant Association of India protested against the feature saying that Zomato advertised the ‘elite’ feature which turned out to be a mass product. This resulted in thousands of restaurateurs logging out of Zomato. The foodtech aggregator had shut down the logout movement by not offering discounts for its gold membership. However, it also extended the service for home delivery, where users could avail the 1+1 and 2+2 offers. Now, following the NRAI’s path, the Indian Hotel and Restaurant Association <a href="https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/8000-strong-hotels-body-to-shun-zomato-gold-delivery/articleshow/72215761.cms">(AHAR)</a>, which has 8,000 members nationally is also claiming to have logged out of Zomato because of Gold on delivery and other issues like unavailability of delivery executives.

Oyo, Zomato, Amazon, and Flipkart are chasing growth but the very foundation is shaking

<ul><li>Big Indian startups have been in the public eye for many controversies thanks to the concerns raised by various <keyword id="946463" type="PERSON" weightage="20" keywordseo="industry-bodies">industry bodies</keyword>. </li><li>From ban on sales to stopping discounts, industry bodies have picked a fight against startups. </li><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, Oyo, Flipkart and Amazon have all been affected by the same. </li></ul>Indian startups have a growing problem at home – industry bodies from different sectors are now up in arms against discounts and deals. From Zomato and Oyo to Flipkart and even the global retail giant Amazon is caught in a fight. Here’s a look at all that’s gone down between industry bodies and startups in just the last month. Restaurants vs online aggregators All seemed to be going well between Indian restaurateurs and online aggregators until last month. The National Restaurant Association of India, which has over 500,000 outlets as members, woke up to the many deals presented by the likes of Zomato, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword>, EazyDiner, Dineout etc., and said that the excessive discounts offered by the delivery apps are throttling their businesses. Zomato bore the brunt of the restaurants’ ire – from the logout movement to social media uproar from hoteliers It had also faced protests from its delivery executives, who were not happy with the pay cuts from the aggregator. The foodtech unicorn paused on its Infinity Dining feature and curtailed the Zomato Gold program but the restaurants remain animus towards the firm. Despite many attempts to thaw in the frosty relationship there is no resolution yet for Zomato and Swiggy. Hotel associations against Oyo Oyo Hotels &amp; Homes in the past few years has grown at a rapid pace to have its signboard up in every big city, and many small towns-- adding up to 270,000 rooms across the country. But in its fast acquisition of buildings and hotels, some traditional hoteliers have raised concerns about ‘illegal practices’. Oyo is battling legal complaints from a Bengaluru-based hotelier accusing Ritesh Agarwal, the founder, of cheating and breach of trust. A month ago, hoteliers too began boycotting Oyo but the Delhi High Court ruled the case in favour of the $5 billion startup. The good ol’ e-commerce fight Indian e-commerce has long been in the eye of public dissent from industry bodies. The likes of Flipkart and Amazon were the first to be hit because of their deep discounting which allows them to acquire customers faster. With the festive season around the corner, Flipkart and Amazon both have massive sales coming up. Flipkart is in fact getting ready with its annual sale – The Big Billion Day Sale. However, now the Confederation of All India Traders is demanding a <a href="https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/ahead-of-diwali-sale-cait-says-ecomm-giants-flouting-rules/71167595">ban </a>on these sales. The CAIT is an industry body for over 7 crore traders. The body has alleged that the two e-commerce giants are violating the Foreign Direct Investment rules with their massive ad campaigns. It has also written to Union Minister Piyush Goyal regarding the same.

India’s biggest startups are faced with growing resistance from industry bodies

<ul><li>Legal guardians and parents can directly benefit from their child’s educational expenses. </li><li>Under section 80C of the <keyword id="6354751" type="UNKNOWN" weightage="20" keywordseo="income-tax">Income Tax</keyword> Act,1961, tuition fee is counted in the tax benefits that can be availed within an upper limit of ₹ 1.5 lacs per annum. </li><li>Other educational expenses like development tax, examination fee, coaching fee and professional courses do not qualify for tax rebate. </li></ul>As Finance Minister Nirmala Sitharaman gears to announce the union budget next month, Indians are looking forward to revised income tax slabs and estimates. However, there’s a lot to look back at what can be saved from the current taxable income. Legal guardians and parents can directly benefit from their child’s educational expenses. Under section 80C of the Income Tax Act,1961, tuition fee is counted in the tax benefits that can be availed within an upper limit of ₹ 1.5 lakhs per annum. However, this also includes other investments like life insurance and provident funds. Tuition fee is the amount paid to the institution at the time of admission into a full-time programme — including play school and kindergarten. The tax benefits are applicable to both government and private institutions. This means, for a person paying 30% of his salary as tax and also pays nearly ₹80,000 as school fee can save upto ₹25,000 on his taxable income. While tution fee falls into the ambit of the income tax guidelines, other educational expenses like development tax, examination fee, coaching fee and professional courses do not qualify for the rebate. The guidelines are applicable for upto two children. This includes cases of adoption as well. Parents who pay the school fee can claim tax benefits. Both parents can claim tax individually for the amount they have paid as fee. However, deductions cannot be claimed for educational expenses on foreign universities. See also: <a href="https://www.businessinsider.in/business/news/shops-owners-will-have-to-pay-up-to-5000-per-day-for-not-going-digital-in-2020/articleshow/73042779.cms">Shops owners will have to pay up to ₹5,000 per day for not going digital in 2020</a> <a href="https://www.businessinsider.in/business/startups/news/income-tax-raid-at-ritesh-agarwal-oyo-headquarters-in-gurugram/articleshow/73189283.cms">Exclusive: Income Tax search at Ritesh Agarwal-led OYO’s headquarters in India</a> <a href="https://www.businessinsider.in/personal-finance/news/i-insisted-on-doing-my-own-taxes-for-years-until-a-cpa-saved-me-4700/articleshow/71713459.cms">I insisted on doing my own taxes for years - until a CPA saved me $4,700</a>

Here’s how sending your child to school can help you save on taxes

<ul><li>The <keyword id="5482723" type="ORGANIZATION" weightage="20" keywordseo="Oversight-Board">Oversight Board</keyword> will have the final word on what content Facebook and Instagram should allow or remove, based on respect for freedom of expression and human rights. </li><li><keyword id="1508987" type="PERSON" weightage="20" keywordseo="Sudhir-Krishnaswamy">Sudhir Krishnaswamy</keyword> is the only representative from India on the board.</li><li>Krishnaswamy is the India Vice Chancellor of the National Law School of India University, and co-founder of the Center for Law and Policy Research.</li></ul>Facebook <a href="https://www.businessinsider.in/tech/news/facebook-announced-the-first-20-members-of-its-oversight-board-that-will-decide-what-controversial-content-is-allowed-on-facebook-and-instagram/articleshow/75586376.cms">recently</a> announced the list of 20 members on its newly created Oversight Board. The Oversight Board will have the final word on what content Facebook and Instagram should allow or remove, based on respect for freedom of expression and human rights. Comprising independent members from around the world, the board also has a seat for Sudhir Krishnaswamy, the only representative from India. Krishnaswamy is the India Vice Chancellor of the National Law School of India University, and co-founder of the Center for Law and Policy Research, an advocacy organization that works for the rights of LGBTQ+ and transgender persons in India through impact litigation. The Oversight Board will begin hearing cases soon, although Facebook is still trying to figure out how the board will function and the operational challenges that will come its way because of the coronavirus pandemic. But the decisions made by the board will be made public, and Facebook will respond to them publicly. “We will publish our decisions on our website, while protecting the identity and privacy of those involved,” said Facebook. The 45-year old Krishnaswamy is one of the most noted academics in India. A visiting professor in the Ivy leagues of the world, he was also a legal consultant in the Prime Ministers Committee of Infrastructure, Planning Commission in 2006. “Content moderation and content control has been a problem in most jurisdictions around the world, India being one of the most affected. Content is currently being controlled by either private companies or the government. Creating a mechanism to oversee a private company is a radical decision; if this works, it provides us with a new way of handling content moderation for the future. It’s as important to democracy as it is to the market,” said Krishnaswamy. A Rhodes scholar and an Oxford graduate, Krishnaswamy was previously the director of the School of Policy and Governance and Professor of Law and Politics at Azim Premji University, as well as the Dr. B.R. Ambedkar Visiting Professor of Indian Constitutional Law at Columbia Law School. He is also an author of the book “Democracy and Constitutionalism in India”. See Also: <a href="https://www.businessinsider.in/business/startups/news/goa-may-be-the-new-thailand-says-ritesh-agarwal-as-oyo-pivots-to-a-new-strategy-driving-and-not-flying-destinations/articleshow/75591960.cms">“Goa may be the new Thailand, ” says Ritesh Agarwal as OYO pivots to a new strategy ⁠— ‘driving, and not flying, destinations’</a> <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months</a>

Meet the Indian on Facebook's oversight board which will police content on Facebook and Instagram

Hello!It's been a dark few weeks, but there's been some light in the past few days, as the <a href="https://www.businessinsider.com/coronavirus-icu-patients-new-york-fell-first-time-cuomo-says-2020-4">number of patients in New York ICUs dropped for the first time since the coronavirus pandemic began</a>, and there was <a href="https://www.businessinsider.com/gilead-remdesivir-clinical-data-in-covid-19-patients-2020-4">some promising data on a potential treatment</a>. As Andrew Dunn reports, more than <a href="https://www.businessinsider.com/gilead-remdesivir-clinical-data-in-covid-19-patients-2020-4">two-thirds of hospitalized COVID-19 patients improved in condition after receiving remdesivir</a>, an experimental antiviral treatment from Gilead Sciences. More tests are needed, as the study had no control group, but the lead author called the observations "hopeful." You can read Andrew's story on remdesivir and 14 other leading treatments that are now being tested against COVID-19 here. <h3><a href="https://www.businessinsider.com/list-coronavirus-treatments-tested-in-clinical-trials-2020-4">Here are the 15 leading coronavirus treatments already being tested in COVID-19 patients, and the major trials now underway to see if they work</a></h3>The pandemic is upending medical research across the board, as big pharma mobilizes to find a treatment. GSK for example is betting <a href="https://www.businessinsider.com/glaxosmithkline-vir-collaboration-coronavirus-research-vaccines-2020-4">$250 million on buzzy biotech Vir as the two team up to hunt for coronavirus treatments and vaccines.</a> In related news, Blake Dodge reported this week that Alphabet's life-sciences firm Verily <a href="https://www.businessinsider.com/verily-connect-patients-to-coronavirus-trials-project-baseline-2020-4">may use its giant patient registry to help sign people up to test coronavirus treatments.</a>And Blake separately reported that tests that can tell if you're immune to the coronavirus are on the way. She breaks down <a href="https://www.businessinsider.com/companies-making-coronavirus-immunity-tests-serology-blood-2020-4">the companies racing to bring them to the US healthcare system here</a>. The flipside here, as Andrew and Blake report, is that dozens of biotechs are putting clinical trials on hold as the search for a coronavirus vaccine <a href="https://www.businessinsider.com/coronavirus-is-upending-clinical-trials-for-other-diseases-2020-3">makes it harder to find cures for cancer, heart disease, and neurological disorders</a>. (For more on how Andrew is covering the high-stakes race for a coronavirus vaccine, <a href="https://www.businessinsider.com/qa-with-andrew-dunn-on-coronavirus-2020-4">he talked to deputy executive editor Olivia Oran about his reporting.</a>)Meanwhile, Apple and Google on Friday announced they are building a system to track COVID-19 cases and alert people if they've been in contact with someone with the virus. But as Rob Price reported, the <a href="https://www.businessinsider.com/apple-google-contact-tracing-system-let-down-us-failure-testing-2020-4">plan is let down by America's testing failures</a>.<h2>Startups to watch</h2>From Melia Russell and Paayal Zaveri:The coronavirus outbreak has changed not only where people work from, but how they work and what tools they use.Already, apps like Zoom and Slack have seen huge increases in usage in the past few weeks, as users grab onto ways to stay connected in their work and personal lives while social distancing.The urgent need for better work tools could catapult some enterprise startups into the pantheon of unicorn startups, as their users multiply and venture capital investors jump to fund them.They asked VCs to tell them about one startup in their portfolio, and one where they have no financial interest, and came up with a list of 30 startups to watch. You can read more here. <h3><a href="https://www.businessinsider.com/future-of-work-startups-success-year-venture-capital-2020-4">30 startups creating the future of work that will prosper in 2020, according to VCs</a></h3>Elsewhere in startup news:<ul><li><a href="https://www.businessinsider.com/rigup-oil-andreessen-horowitz-data-breach-layoffs-2020-4">Austin unicorn startup RigUp went from hiring "at a rapid pace" to cutting 25% of staff in a matter of weeks. Now a data breach is adding to its woes.</a></li><li><a href="https://www.businessinsider.com/5-billion-restaurant-software-startup-toast-cuts-hundreds-2020-4">$5 billion software startup Toast just slashed its workforce by 50% despite a recent $400 million funding round, as coronavirus has wiped out its main source of customers.</a></li><li><a href="https://www.businessinsider.com/software-startup-lever-employees-layoffs-2020-4">Employees from Lever, the hot recruiting-software startup run by an ex-Googler, say the company just cut about 40% of its workforce as hiring dries up amid the sharp economic downturn.</a></li><li><a href="https://www.businessinsider.com/these-vc-firms-portfolio-companies-layoffs-nea-founders-fund-andreessen-2020-4">Silicon Valley startups are being forced to cut costs or die in the worst financial crisis in a generation. Here are the investors whose companies are feeling it the worst.</a></li><li><a href="https://www.businessinsider.com/consultants-who-focus-on-distressed-startups-say-theyre-in-demand-2020-4">Consultants who try to help VCs salvage struggling startups say the coronavirus crisis has them 'on more conference calls than we probably ever have been."</a> </li><li><a href="https://www.businessinsider.com/sba-made-easier-for-startups-to-qualify-for-coronavirus-loans-2020-4">Silicon Valley startups may get to tap into the $350 billion coronavirus small-business loan program after all, thanks to late rule changes by regulators.</a> </li></ul><h2>A real estate meltdown</h2>The week started with the news that <a href="https://www.businessinsider.com/wework-group-sues-softbank-for-failing-to-complete-stock-purchase-2020-4">WeWork board members are suing SoftBank for backing out of its plan to buy $3 billion of shares.</a> Meghan Morris reported that former CEO <a href="https://www.businessinsider.com/wework-group-sues-softbank-for-failing-to-complete-stock-purchase-2020-4">Adam Neumann is still weighing legal options</a>.Meghan and Dan Geiger then revealed that WeWork rival Knotel is <a href="https://www.businessinsider.com/knotel-stops-paying-rent-landlords-commission-fees-to-cushman-cbre-2020-4">scrambling to pay millions in bills</a> that started stacking up before the coronavirus hit, <a href="https://www.businessinsider.com/knotel-stops-paying-rent-landlords-commission-fees-to-cushman-cbre-2020-4">and hasn't paid April rent at some locations</a>. They also got leaked Knotel financials, <a href="https://www.businessinsider.com/knotel-leaked-financials-2019-show-missed-targets-2020-4">which show it struggled to hit sales targets.</a>Elsewhere:<ul><li>Dan reported that <a href="https://www.businessinsider.com/aby-rosen-drops-deals-totaling-600-million-amid-coronavirus-2020-4">real-estate tycoon Aby Rosen is abandoning $600 million worth of acquisitions as the coronavirus puts New York City's multibillion-dollar sales market on ice</a>.</li><li>Melia Russell reported that SoftBank-backed Oyo quietly fired 110 people based on their performance. Some fired workers say it was basically impossible to close sales, and the <a href="https://www.businessinsider.com/oyo-fires-us-employees-for-performance-workers-say-sales-struggle-2020-4">company is only offering severance if they agree to not speak out</a>.</li><li>Alex Nicoll reported that real-estate brokerage Redfin <a href="https://www.businessinsider.com/redfin-furloughs-almost-half-agents-lays-off-7-of-employees-2020-4">is furloughing 41% of agents until September</a>, painting a dire picture for how long the US housing market will take to bounce back.</li><li>Real estate mogul Barbara Corcoran talked to Libertina Brant about about navigating real estate uncertainty. "For somebody like me, <a href="https://www.businessinsider.com/barbara-corcoran-weighs-in-on-when-to-invest-in-the-housing-market-2020-4">it's the perfect time to buy</a>," she said. </li><li>Meghan reported that private-equity giant Blackstone bet big on four huge Las Vegas casinos. Then the coronavirus brought Sin City to a halt, <a href="https://www.businessinsider.com/inside-private-equity-giant-blackstones-las-vegas-casino-investments-2020-4">right as the PE giant was trying to unload one of its multi-billion-dollar jewels</a>.</li><li>Troy Wolverton reported that Airbnb could run out of cash in one year, even with the $1 billion it just raised, <a href="https://www.businessinsider.com/airbnb-could-out-of-cash-in-year-due-to-coronavirus-2020-4">because of how devastating the coronavirus is on its business</a>.</li><li>Alex reported that short-term rental managers are ramping up their amenities to<a href="https://www.businessinsider.com/short-term-rentals-lengthen-stays-for-customers-who-want-isolation-2020-4"> include masks, hand sanitizer, and large cases of wine as city dwellers look for their "destination isolation."</a></li></ul>Below are headlines on some of the stories you might have missed from the past week. Stay safe, everyone.-- Matt<ul><li><a href="https://www.businessinsider.com/wall-streets-top-restructuring-bankers-when-recessions-defaults-hit-2020-3">POWER PLAYERS: Meet 20 Wall Street restructuring bankers who will navigate the defaults and bankruptcies of the coronavirus crisis</a></li><li><a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-prices-coronavirus-investing-morgan-stanley-2020-4">Morgan Stanley handpicks the 18 best US stocks to buy now while they're cheap to enjoy profits for years to come</a></li><li><a href="https://www.businessinsider.com/buy-now-pay-later-affirm-afterpay-klarna-splitit-merchants-spending-2020-4">Buy now, pay later startups are "having a moment" - here's why retailers like Walmart and Target are betting on installment payments to keep consumers spending</a></li><li><a href="https://www.businessinsider.com/gv-backed-orbital-insights-images-from-space-track-oil-storage-2020-4">A startup backed by Goldman Sachs is measuring shadows from space to track the world's oil supply - and it's yielding numbers that no one else has</a></li><li><a href="https://www.businessinsider.com/companies-oracle-could-buy-acquisition-targets-20-billion-2020-4">Oracle is known for making bold M&amp;A moves in a recession and it's sitting on a fresh $20 billion. Here are the 7 companies experts think it could acquire as the coronavirus crisis drives down valuations</a></li><li><a href="https://www.businessinsider.com/teach-yourself-to-code-best-online-coding-boot-camps-programming-2020-4">The 10 best online coding boot camps that you can sign up for right now to land a job at a tech company like Facebook or Intel</a></li><li><a href="https://www.businessinsider.com/the-23-people-shaping-the-tv-advertising-industry-in-2020-2020-4">TV advertising is a mess - meet 23 industry insiders working to fix it</a></li><li><a href="https://www.businessinsider.com/mahattan-ceo-reveals-daily-routine-she-follows-working-from-home-2020-4">How a CEO is running a Manhattan-based brokerage from an apartment she shares with her 2 teenage kids - she swears by this daily routine from 6:30 a.m. to 6 p.m.</a><a href="https://www.businessinsider.com/mahattan-ceo-reveals-daily-routine-she-follows-working-from-home-2020-4"></a></li><li><a href="https://www.businessinsider.com/mckinsey-client-note-coronavirus-pandemic-response-2020-4">McKinsey created a 67-page briefing for executives with tips for responding to the coronavirus pandemic. Here are the 9 most important slides you need to read on managing the crisis.</a></li></ul>

You Searched For "oyo legal case" and got 8 results

Dues, death and an investigation — all that went wrong with OYO hotels in the last 6 months

Sanchita Dash

MakeMyTrip and Oyo are in trouble with the CCI, opening up a gray area for business partnerships in India

Sanchita Dash

It's a stormy time for two of India's biggest startup brands

Sanchita Dash

Oyo, Zomato, Amazon, and Flipkart are chasing growth but the very foundation is shaking

Sanchita Dash

India’s biggest startups are faced with growing resistance from industry bodies

Sanchita Dash

Here’s how sending your child to school can help you save on taxes

Prerna Sindwani

Meet the Indian on Facebook's oversight board which will police content on Facebook and Instagram

Sanchita Dash

The race to find a coronavirus vaccine, startups to watch, and a real estate meltdown

Matt Turner

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